• DappRadar has launched a report on NFT gross sales and buying and selling quantity.
• The report reveals that Solana ranks highest among the many prime NFT blockchains by transaction quantity.
• Solana will compete with Polygon, which has a 26.9% edge in NFT gross sales.

The most recent NFT report by DappRadar reveals that Ethereum’s dominance within the NFT market has dropped to only 5.7% by way of NFT turnover. DappRadar additionally careworn that Ethereum’s declining NFT gross sales dominance signifies that blockchain is primarily utilized by NFT aristocrats.

Based on the report, Solana sits proper behind Ethereum in second place with a buying and selling quantity of $22.7 million. The Solana blockchain accounts for his 6.7% of whole NFT buying and selling quantity. It additionally accounts for a 13% share of whole NFT gross sales.

Polygon has cemented its place as probably the most distinguished blockchain by way of gross sales numbers, with a staggering $18.2 million transaction quantity and a commanding 26.9% dominance in NFT gross sales.

This achievement is proof of Polygon’s current strategic determination because it has turn out to be the popular selection for a lot of Net 2.0 initiatives aimed toward launching NFT initiatives at a low price. Moreover, Polygon’s ecosystem consists of quite a few video games that incorporate NFT mechanics, similar to Planet IX, The Sandbox, and Oath of Peak.

Polygon has additionally emerged as the preferred blockchain in 2023 to this point. Based on knowledge from NFT Information, Polygon’s reputation rose from 23% in 2022 to 41% within the first quarter of 2023. This has additionally attracted distinguished business insiders similar to Nike, Reddit and Starbucks.

DappRadar knowledge additionally confirmed that Might NFT gross sales might fall beneath $1 billion. The info reveals that the present buying and selling quantity is $333 million out of two.3 million gross sales.